Foundations Investment Advisors LLC Sells 12,016 Shares of International Paper Company $IP

Foundations Investment Advisors LLC lessened its holdings in International Paper Company (NYSE:IP) by 62.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,316 shares of the basic materials company’s stock after selling 12,016 shares during the quarter. Foundations Investment Advisors LLC’s holdings in International Paper were worth $339,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Gentry Private Wealth LLC grew its position in shares of International Paper by 2.1% during the second quarter. Gentry Private Wealth LLC now owns 9,357 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 188 shares in the last quarter. Wellington Shields Capital Management LLC boosted its stake in International Paper by 7.0% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 3,468 shares of the basic materials company’s stock worth $162,000 after purchasing an additional 226 shares during the period. Atalanta Sosnoff Capital LLC boosted its stake in International Paper by 3.8% in the 2nd quarter. Atalanta Sosnoff Capital LLC now owns 6,759 shares of the basic materials company’s stock worth $317,000 after purchasing an additional 245 shares during the period. Blue Trust Inc. grew its holdings in International Paper by 10.1% during the 2nd quarter. Blue Trust Inc. now owns 2,836 shares of the basic materials company’s stock valued at $133,000 after buying an additional 259 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of International Paper by 1.7% during the third quarter. Evergreen Capital Management LLC now owns 15,856 shares of the basic materials company’s stock valued at $736,000 after buying an additional 263 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Up 3.2%

IP opened at $42.01 on Wednesday. The stock has a 50-day moving average of $40.35 and a 200 day moving average of $43.85. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. International Paper Company has a 12 month low of $35.56 and a 12 month high of $57.55. The firm has a market cap of $22.18 billion, a P/E ratio of -6.26, a P/E/G ratio of 0.49 and a beta of 1.11.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.36). The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.90 billion. International Paper had a negative net margin of 14.12% and a negative return on equity of 0.35%. The company’s revenue for the quarter was up 53.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. As a group, research analysts forecast that International Paper Company will post 2.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IP shares. Citigroup upped their target price on shares of International Paper from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wall Street Zen downgraded shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Weiss Ratings restated a “sell (d+)” rating on shares of International Paper in a research report on Monday, December 29th. UBS Group downgraded International Paper from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $51.00 to $44.00 in a research report on Monday. Finally, Truist Financial cut their price target on International Paper from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $48.89.

Insider Buying and Selling at International Paper

In other International Paper news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew K. Silvernail bought 50,000 shares of the stock in a transaction dated Friday, January 30th. The stock was purchased at an average price of $39.98 per share, with a total value of $1,999,000.00. Following the acquisition, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $1,999,000. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.55% of the company’s stock.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.